TransFICC launches RFQ automation for D2C venues

Rick Steves

“Our auto-negotiation service provides the code, support, and security out of the box.”

The bank only needs to provide a customer price, while TransACT manages all other aspects of the RFQ negotiation.

TransFICC has announced the launch of TransACT, a new service designed to automate Request for Quote (RFQ) negotiation workflows for banks active in Dealer-to-Client (D2C) venues.

D2C trading venues present a challenge due to their support of multiple, distinct RFQ negotiation workflows. Such diversity complicates the development of automated systems for responding to customer RFQs, which requires extensive mapping, coding, testing, and maintenance.

Enter TransACT, a solution that alleviates the burden by automating the negotiation process, where the bank only needs to provide a customer price, while TransACT manages all other aspects of the RFQ negotiation.

“Code, support, and security out of the box”

Judd Gaddie, Co-Founder of TransFICC, said: “Our auto-negotiation service provides the code, support, and security out of the box. The only bank requirement is to have a Pricer, meaning the service can quickly go live. What used to take months or years for a bank to deploy has been reduced to a few weeks.”

TransACT offers a hosted service that automates venue connectivity and negotiation workflows, requiring only a price stream and execute/reject instruction for each RFQ from the dealers. The service enables dealers to automate large portions of their Credit trading operations quickly and allows trading desks to concentrate on managing larger tickets and risk strategies.

The service is now available for use on major trading platforms such as MarketAxess, Tradeweb, Bloomberg, and TruMid for US Credit trading, with plans to expand to additional RFQ assets, including Interest Rate Swaps (IRS), later this year.

TransFICC launched eTrading for interest rate swaps and US credit

Last year, TransFICC launched an eTrading service that combines a hosted desktop GUI with Interest Rate Swaps venue and workflow integration, pricer API, server hosting, and secure connectivity.

The specialist provider of low-latency connectivity and workflow services for Fixed Income and Derivatives Markets developed the solution in response to banks asking for increased efficiency when managing Requests for Quotes (RFQs).

The eTrading service streamlines workflows by presenting traders with pop-up tickets to support outright, curve, and compression trades, with pricing fields automatically populated by internal pricing engines.

It is a plug-and-play solution that supports all Interest Rate Swaps workflows, provides full security and disaster recovery, and is quick to deploy, with the capability to install a new bank client with dedicated hosting in under two weeks.

Read this next


Top Bullish Crypto: & Pepe Coin Price Surge, But BlockDAG Sees Investor Rush as X Series Miners Stand Out

Compare (FET) Bull Run, Pepe Coin price, and top bullish crypto BlockDAG. Discover why BlockDAG’s innovation and growth potential make it the best choice.

Digital Assets

Coinbase resumes XRP trading in New York after nine-month hiatus

Coinbase has resumed trading for XRP in New York, the company’s chief legal officer, Paul Grewal, announced on Thursday. This comes after a nine-month suspension of the cryptocurrency on the exchange due to regulatory scrutiny.

Institutional FX

Swissquote joins Fortex Hub to expand liquidity distribution

ECN trading platform and technology provider, Fortex Inc. has announced a new integration with Swissquote Group, Switzerland’s provider of online trading services.


Multipool Enters Partnership with Mobilum Offering Users Fiat to DeFi On/Off Ramp

Multipool, a leading innovator in the blockchain and cryptocurrency industry announces a corporate partnership with Mobilum.

Retail FX

IC Markets taps TipRanks’ trading research tools

Sydney-based IC Markets has completed integration of TipRanks’s rating tools, which ranks analysts and financial bloggers based on their picks’ performance analysis, in a bid to provide its clients with new research capabilities.

Digital Assets shelves plan to operate in Hong Kong

Gate Digital Ltd (Gate HK) announced it is winding down operations and has withdrawn its application for a crypto trading platform license in Hong Kong.


Sui and Mesh Combine Forces to Bring Simplified Transactions Across the Sui Ecosystem

With the addition of the Mesh platform, Sui Wallet will achieve product parity with the world’s largest self-custody wallets, while Mesh now natively supports the SUI token

Market News, Tech and Fundamental, Technical Analysis

EURGBP Technical Analysis Report 23 May, 2024

EURGBP currency pair can be expected to rise further toward the next resistance level 0.8560.

Digital Assets

Bybit denies financial woes and hacking rumors

Ben Zhou, CEO of Dubai-based cryptocurrency exchange Bybit, has refuted circulating rumors that the platform has been hacked or is insolvent. Zhou addressed the speculations in a post on the social media platform X.